PaySign (NASDAQ:PAYS) Updates FY 2024 Earnings Guidance

PaySign (NASDAQ:PAYS) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 0.040-0.060 for the period, compared to the consensus EPS estimate of 0.070. The company issued revenue guidance of $54.5 million-$56.7 million, compared to the consensus revenue estimate of $52.2 million. PaySign also updated its Q1 2024 guidance to EPS.

PaySign Stock Up 18.3 %

Shares of NASDAQ:PAYS opened at $4.00 on Thursday. PaySign has a 52-week low of $1.67 and a 52-week high of $4.53. The company has a market capitalization of $211 million, a price-to-earnings ratio of 33.33 and a beta of 1.06. The company has a 50 day moving average of $3.06 and a two-hundred day moving average of $2.52.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PAYS shares. DA Davidson lifted their price objective on PaySign from $3.00 to $4.00 and gave the company a buy rating in a research note on Monday. TheStreet raised shares of PaySign from a d+ rating to a c- rating in a report on Wednesday, January 3rd. Finally, Barrington Research restated an outperform rating and issued a $5.50 price target on shares of PaySign in a research note on Wednesday.

Insider Activity at PaySign

In other PaySign news, insider Topline Capital Management, Ll purchased 19,098 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was bought at an average price of $2.74 per share, with a total value of $52,328.52. Following the completion of the purchase, the insider now directly owns 5,375,970 shares of the company’s stock, valued at approximately $14,730,157.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other PaySign news, major shareholder Topline Capital Partners, Lp acquired 73,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were acquired at an average cost of $2.80 per share, with a total value of $204,400.00. Following the completion of the acquisition, the insider now directly owns 5,448,970 shares in the company, valued at $15,257,116. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Topline Capital Management, Ll acquired 19,098 shares of PaySign stock in a transaction that occurred on Tuesday, January 23rd. The stock was acquired at an average price of $2.74 per share, with a total value of $52,328.52. Following the completion of the acquisition, the insider now directly owns 5,375,970 shares in the company, valued at approximately $14,730,157.80. The disclosure for this purchase can be found here. Insiders bought 691,570 shares of company stock valued at $2,046,811 in the last ninety days. Insiders own 23.40% of the company’s stock.

Institutional Trading of PaySign

A number of hedge funds and other institutional investors have recently modified their holdings of PAYS. Vanguard Group Inc. increased its position in PaySign by 2.0% during the first quarter. Vanguard Group Inc. now owns 1,402,339 shares of the company’s stock worth $2,763,000 after acquiring an additional 27,541 shares during the period. State Street Corp boosted its position in shares of PaySign by 8.9% during the 1st quarter. State Street Corp now owns 110,543 shares of the company’s stock worth $218,000 after acquiring an additional 9,059 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in PaySign by 2.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,256,232 shares of the company’s stock valued at $1,909,000 after purchasing an additional 28,700 shares in the last quarter. Jane Street Group LLC bought a new stake in PaySign in the second quarter valued at $40,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of PaySign by 281.3% during the 3rd quarter. Tower Research Capital LLC TRC now owns 16,382 shares of the company’s stock worth $39,000 after buying an additional 12,086 shares during the period. 25.89% of the stock is owned by hedge funds and other institutional investors.

PaySign Company Profile

PaySign, Inc provides prepaid card products and processing services under the PaySign brand for corporate, consumer, and government applications. It offers various services, such as transaction processing, cardholder enrollment, value loading, cardholder account management, reporting, and customer service through PaySign, a card processing platform.